Blake Griffin Signs 5-Year, $95 Million Extension with Clippers

ESPN is reporting that Los Angeles Clippers forward Blake Griffin is set to sign an extension worth a reported $95 million over five years.

A source with knowlegde of the deal told ESPNLosAngeles.com’s Ramona Shelbourne that Griffin has given the ok to the stay with the Clippers.

More to come as more details emerge…

UPDATE 7:12p.m. ET. –

Blake Griffin could earn up to $95 million over a five-year span. This is conditional depending upon whether or not he is voted as an All-Star starter or named to the second All-NBA team next season. This is under what the new CBA is identifying as the “Derrick Rose Rule” where a player finishing his rookie contract is allowed to make 30 percent of their team’s salary cap if he is twice voted an All-Star, makes an All-NBA team or wins an MVP award.

The new CBA, allows rookies to extend their contracts by four years, but allows the team to nominate one player to sign a five-year extension.

Griffin’s new contract will being in the 2013-14 season and will be able to opt out of the last year of his extension.

Griffin’s extension would begin with the 2013-14 season. He would be able to opt out of the final season of the contract but is otherwise committed to the franchise through 2018.

The Clippers have brought in a lot of talent since drafting Griffin No. 1 overall in 2009. All-Star point guards Chris Paul and Chauncey Billups have made the Clippers a formidable force in the Western Conference. And with the additions of forward Caron Butler and more recently the off-season signings of Lamar Odom and Jama Crawford, the Clippers might have the pieces to make a Western Conference Finals push.

Griffin was asked by ESPNLosAngeles about the Clippers and fellow All-Star Chris Paul:

“I feel good about them (the Clippers),” Griffin told ESPNLosAngeles last weekend at Team USA’s training camp in Las Vegas. “Like I’ve said, everything’s been positive. Everything’s been moving forward. It’s been a good experience. I’m not a believer in breaking up something that’s working.”

As for Paul, Griffin said he didn’t read much into his decision to wait on signing an extension with the team.

“I didn’t expect him to re-sign this summer,” Griffin said. “I don’t think anybody who knows anything about it did. But we’ll work on that throughout the season.”

Needless to say, things are looking up in ‘Lob City’ and they will be a tough test for the West Coast ‘powerhouses’ Lakers, Spurs and Thunder.